Albania improves financial inclusion/ OECD: Microfinance development and new strategic framework have influenced its growth
Albanian microfinance is increasingly developing, while this consolidation and the drafting of a new strategic framework have influenced the further increase in the financial inclusion of citizens. This is stated by the OECD in one of its latest indices, where it assesses Albania with 3.76 points in terms of financial inclusion of citizens from 3.51 in 2022, despite the ongoing gaps in policies that promote financial inclusion.
To address existing structural gaps in financial literacy, the Bank of Albania adopted the National Strategy for Financial Education and Inclusion 2024–2026 in January 2024. According to the Organization for Economic Cooperation and Development, existing initiatives do not have the scale to fill the low financial penetration of the economy, with only 46.1% of the adult population owning a bank account in 2025. The Bank of Albania has also undertaken several initiatives to increase financial awareness among primary and secondary school students and the public, but their scale remains limited. Private actors also provide training for marginalized groups.
Despite these efforts, activities remain largely uncoordinated, resulting in a fragmented financial education landscape in Albania, the OECD emphasizes.
However, small businesses in Albania are gaining better access to microfinance, thanks to a strong legal framework and active policies that promote its development. Recent policy initiatives are designed to modernize the microfinance sector by introducing digital solutions, improving operational efficiency and expanding the reach of financial services. Regulation No. 29/2022, in line with the European Union Payment Services Directive (PSD2), facilitates electronic identification, open banking and interoperability between financial service providers, thus laying the foundation for digital microfinance solutions.
Also, based on the interest rate caps on consumer loans, the sector has continued to expand, with loans provided by microfinance institutions reaching 0.65% of GDP in 2024, double the 2019 level (0.37%).
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